Why Clorox Stock Is Rising After Q2 Earnings

Clorox Co CLX shares are trading higher in Thursday's after-hours session after the company reported better-than-expected fiscal second-quarter results

What Happened: Clorox said second-quarter revenue increased 1% year-over-year to $1.72 billion, which beat average analyst estimates of 65 cents per share, according to Benzinga Pro. The household products company reported quarterly adjusted earnings of 98 cents per share, which beat average analyst estimates of 65 cents per share. 

"The actions we are taking to rebuild margin are working, and we are relentlessly driving additional improvements while investing in our brands, categories and capabilities," said Linda Rendle, CEO of Clorox.

"Going forward, we are confident that our leading product portfolio in essential categories coupled with our proactive actions will enable us to navigate current macroeconomic challenges and return to more consistent profitable growth over time."

Clorox sees full-year 2023 net revenue in a range of down 2% to up 1% on a year-over-year basis. Full-year adjusted earnings are expected to be between $3.85 and $4.22 per share versus estimates of $4.17 per share. 

See Also: Starbucks Stock Is Cooling Off After Hours: What's Going On?

CLX Price Action: Clorox has a 52-week high of $167.70 and a 52-week low of $120.50. 

The stock was up 4.26% in after hours at $147 at the time of writing, according to Benzinga Pro.

Photo: Courtesy of Clorox

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